The Executive Vice President, Finance, Strategy and Commercial, Renaissance Africa Energy Company Limited, Mr. Olusegun Banwo, has called for deliberate investments in human capital development, institutional capability, and resilient supply chains as critical enablers of Nigeria’s future energy growth.
Speaking on Monday at a strategic panel session titled “Upscaling Capacity & Supply Chains to Meet Evolving Energy Demands” during the 25th anniversary edition of NOG Energy Week 2026 in Abuja, Banwo stressed that the industry’s ability to execute future projects and meet evolving energy needs will depend not only on access to resources and capital, but also on the quality of the talent and supplier ecosystems supporting the sector.
“Every energy ambition ultimately translates into a capability requirement, Banwo said, adding: “Every major project requires the right people, the right skills, and the right supply chain ecosystem to deliver safely, efficiently, and competitively,”
Banwo noted that the Nigerian energy industry is entering a new phase characterised by increased project activity, expanding gas opportunities, growing indigenous participation, and rising expectations around operational performance and competitiveness.
According to him, the industry’s immediate challenge is no longer simply talent availability, but talent readiness.
He emphasised the need for stronger alignment between industry requirements and educational outcomes, calling for deeper collaboration among operators, academia, training institutions, regulators, and capacity development agencies to ensure that workforce development keeps pace with changing industry needs.
Speaking on supply chain development, Banwo described supply chains as strategic infrastructure that directly influence project execution, investment attractiveness, operational efficiency, and long-term energy security.
“The goal is not simply to increase the number of local suppliers. The goal is to develop globally competitive local suppliers capable of consistently delivering quality, innovation, and value.”
He further noted that Nigeria’s local content journey has made significant progress over the past two decades, adding that the next phase of industry development should focus on enhancing productivity, competitiveness, and capability maturity across the sector.
He urged stakeholders across the energy ecosystem to take a more integrated approach to capacity development.
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